Business Ethics – Anti-bribery and corruption

Preventing Bribery and Corruption Position Paper

It is a grim reality, however one we have to face and challenge, that – like in any other industry – the sporting goods industry is vulnerable to various illegal activities.  

One of the most significant imminent risks is bribery and corruption. The World Economic Forum estimates that corruption increases the cost of doing business globally by up to 10% on average. 

Recent scandals and investigations in the world of sport illustrate that bribery and corruption pose a very real threat to the reputation of our whole industry.   

The WFSGI Legal committee members have created a paper which provides WFSGI members with information to help them counter-act bribery and corruption in the sporting goods industry. It also outlines the benefits and challenges of maintaining high standards in this area and includes an explanation of how we intend to support our members regardless of size in responding to the increasing challenges both in the sporting world and in the legislative environment.  

This support includes suggestions for relevant standards and processes, examples of policy and procedures from some of our member companies and references a range of other resources.   

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